Moolah Masters: This is how India's super rich live, spend and invest

In FY17, ultra HNI households represented an accumulated networth of Rs 153 lakh crore. The Ultra High Networth Households (UHNHs) are up by 10% to 1.6 lakh in 2017 and is expected to double to 3.3 lakh by 2022, according to a Kotak Wealth Management report.

In FY17, ultra HNI households represented an accumulated networth of Rs 153 lakh crore. The Ultra High Networth Households (UHNHs) are up by 10% to 1.6 lakh in 2017 and is expected to double to 3.3 lakh by 2022.

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More than 50% ultra HNIs said that they have increased allocations in their primary businesses.

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At 27% of total time spent per month, the most preferred fitness regime for ultra HNIs was exclusive memberships to health clubs or select gyms.

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Apps that monitor fitness, health, and food intake have gained popularity among the affluent. Surprisingly, none of the fitness gadgets and apps were rated very highly by them.

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On an average, ultra HNIs spend most of their time online catching up on current affairs and socialising every day, followed by planning parties and informal get-togethers. They spend the least amount of time browsing fashion.

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Facebook and WhatsApp were the most favourite apps, with most ultra HNIs visiting these at least once a day. In fact, 52% of those who used WhatsApp visited the application more than thrice a day, while 86% looked at Facebook at least once a day.

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About 95% said that in family-run businesses, the final decision is taken exclusively by the head of the family. About 85% said that family-run businesses have a formal framework in place to facilitate decision-making and conflict resolution. All ultra HNIs said that family-run entities take business decisions jointly after discussion.

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About 80% say they are associated with charities that provide food for the poor. The second-largest cause that ultra HNIs support is education. Most believe this is a powerful tool to empower the country and eliminate poverty.

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In terms of spends, the share of jewellery has decreased to about 12% from 17% last year. Higher gold prices have contributed to a fall in demand. The government that had made PAN disclosure mandatory for all transactions and purchases above Rs 2 lakh dented the sales of jewellery to some extent. A demonetisation-driven liquidity crunch, that too at the height of the wedding season, also contributed to falling sales.

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Indian ultra HNIs broadly invest across equity, real estate, fixed income, and alternative investment assets. With the booming stock markets, equity had the highest share at 40% investment allocation in FY17 while it had taken a hit in FY16. Debt and alternate assets had a share of 17% and 11% respectively. Real estate had a share of 32% on favourable policy initiatives.